- Amadeus APEX Technology Fund, Finindus, Possible Ventures, E44 Ventures, and Breakthrough Energy Fellows back HyperHeat’s renewable industrial heat technology.
- 25 percent of global CO2 emissions come from heavy industry, which produces products critical to our modern way of life but contributes to global warming.
- HyperHeat’s technology offers a path to replacing fossil-fuel-based burners with an efficient, electrically powered system capable of running solely on renewable energy and aims to reduce global CO2 emissions by 16 percent.
Offenburg, Germany - 26 November 2024 — HyperHeat, the startup using renewable energy to make Zero-Carbon industrial heat, has successfully raised €3.5 million in a funding round. The investment was led by the Amadeus APEX Technology Fund with participation from Finindus, Possible Ventures, E44 Ventures, Breakthrough Energy Fellows, and a group of seasoned business angel investors.
HyperHeat plans to use the funds to continue building and testing its first industrial products, which are expected to be deployed by 2025.
Over 25 percent of global CO2 emissions come from heavy industry, making products critical to our modern way of life but contributing to global warming. (1) Steel, cement, and chemicals production are the world's most carbon-intensive industries. These sectors face significant challenges in decarbonization, including the need for extremely high temperatures and the inherent release of carbon dioxide during production processes.
To address these challenges, innovative solutions must be developed to reduce emissions and transition to sustainable practices. HyperHeat is rising to the challenge by developing a breakthrough technology for emission-free, high-temperature heating. Its mission is to move fossil fuel-reliant industries like steel, cement, and chemicals toward a future powered by renewable electrical energy.
To do this, the company is developing an electrically-powered system capable of reaching unmatched temperatures of up to 2000°C without typical degradation.
The novel low-cost industrial heater uses oxide ceramics for ultra-hot resistive heating. Its solution can be compared to a super-hot electric hair dryer, a drop-in replacement for a natural gas burner. This heater can rapidly decarbonize high-temperature processes in industries like steel, cement, and chemicals through cost-efficient retrofitting when powered by renewable electricity.
“Our goal is to bring a transformative and economical solution to industrial heat generation that accounts for nearly 16 percent of global CO2 emissions(2),” said Dr.-Ing. Lars Amsbeck, co-founder and co-CEO of HyperHeat.
Frederick Lessmann, co-founder and co-CEO of HyperHeat continues: “We’re not just reducing emissions—we’re providing a practical, scalable, and most importantly economical solution for industrial companies facing increasing carbon regulations and market pressure. Our electric heater can retrofit existing furnaces and reach flame-like temperatures with unprecedented efficiency and durability.”
“The HyperHeat founding team combines a rare blend of technical brilliance and strategic vision that sets them apart in the industrial decarbonization space. We're confident their solution will play a crucial role in reducing carbon emissions and driving sustainable industrial growth," said Wolfgang Neubert, General Partner at APEX Ventures.
“More than 60 percent of the industry’s energy is required in the form of heat. Much of this is high-temperature heat generated by burning fossil fuels. The cutting-edge technology of HyperHeat allows decarbonizing the demand for heat at well over 1000 °C, even up to 2000 °C. This electric heater technology offers a unique value proposition in terms of cost and durability, ideally suited for heavy industries,” said Hans Maenhout, Investment Director at Finindus.
Based in Germany, near the border with France, HyperHeat was founded in 2023 by Dr. Lars Amsbeck and Frederick Lessmann and is at the forefront of the power-to-heat movement to decarbonize industries that have long relied on fossil fuels.
With this investment, HyperHeat will increase its R&D efforts and deploy the technology in partnership with pilot-customers. By offering a high-temperature heating solution that aligns with the world’s clean energy goals, HyperHeat is well-positioned to become a leader in renewable industrial heat and contribute to a sustainable future for our planet.
ENDS
Note to editors:
Data sources:
CO2 Emissions in 2022 – Analysis - IEA
The Basics & The Gaps Thermal Energy Storage - Future Cleantech Architects
Press kit - Available Here
For media inquiries or additional information, please contact:
Maddy Grigorie - CEW Communications for APEX Ventures
maddy@cewcomms.com, +447412026525
About HyperHeat
HyperHeat is on a mission to enable the world’s most energy-intensive industries to reach zero carbon emissions at a large scale, at a low cost, and in time to stop climate change.
HyperHeat's products will provide a complete temperature range of up to 2000°C, making it a replacement for almost every gas burner in the heavy industry. Our solution will be more cost-effective than the fossil state of the art, contributing to a new basis for global prosperity. At the heart of the development is a durable and cost-effective electric heater that can provide industrial process heat 24/7 from PV and wind power when combined with thermal storage.
For more information, visit www.hyperheat.de
About APEX Ventures and the Amadeus APEX Technology Fund
APEX Ventures is a European venture capital firm focusing on early-stage deep tech companies. The team acts as hands-on investors with a mission to support the most talented startup teams in building global market leaders. In early 2023, APEX Ventures launched the Amadeus APEX Technology Fund together with Amadeus Capital Partners to invest in sectors that include next-gen computing, artificial intelligence, autonomous systems, space, medical technologies, energy, and other emerging deep tech areas. The fund invests in Seed and Series A ventures with innovative technology and engineering based on significant scientific advances. www.apex.ventures
About Finindus
Finindus is a Belgium-based investment company funded by ArcelorMittal and the Flemish Region and is linked to OCAS, a world class metal research centre. Finindus provides early stage and growth financing to innovative technology companies active in the field of materials, sustainable manufacturing and industry 4.0. Finindus invests across Europe, with Flanders as a home base and sweet spot, and across the globe for investment opportunities in smart and green technologies at the centre of its core domains and in line with the strategic interests and areas of expertise of its shareholders.
For more information, visit www.finindus.be.
About Possible Ventures
Possible Ventures is a Munich-based international venture capital firm investing in frontier technologies to tackle humanity’s biggest challenges. Specializing in deep tech sectors like climate, energy, robotics, new computing, security, techbio, computational healthcare and space, the firm focuses on early-stage investments at the pre-seed and seed levels. Led by a team with extensive entrepreneurial experience, Possible Ventures has earned the trust of co-investors such as Accel, Benchmark, Bessemer, EQT Ventures, and General Atlantic.
For more information, visit possible.ventures.
About E44 Ventures
E44 Ventures is a climate tech fund investing in deep-tech, early-stage ventures in the EU and Israel that take climate action hands-on. Based on our unique experience and expertise of serial entrepreneurs, scientists, and business professionals working synergistically for one cause – creating a sustainable, prosperous future for our planet.
For more information, please follow: https://e44ventures.earth/
About Breakthrough Energy Fellows
The Breakthrough Energy Fellows program is designed to tackle early-stage barriers to climate technology innovation. By providing scientists, innovators, and entrepreneurs with research funding and hands-on support, the program ensures projects have the resources they need to advance to the next stages of development.
For information specific to Breakthrough Energy's Fellows program, please visit www.breakthroughenergy.org/our-work/fellows/